M/C Communications launches term loan repricing, add-on

By Sara Rosenberg

New York, Aug. 3 - M/C Communications LLC launched a repricing of its term loan on Wednesday and is looking to increase the tranche size by $35 million to a total of about $181 million, according to a market source.

Lehman is the lead bank on the deal.

Under the repricing proposal, the term loan spread would go down to Libor plus 250 basis points from Libor plus 450 bps, the source said. The add-on would be priced at Libor plus 250 bps as well.

The repriced deal would contain 101 soft call protection for one year.

Proceeds from the incremental term loan debt will be used to prepay junior debt.

M/C Communications is a Boston-based producer of medical conferences.

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